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KLAC Gets Clocked, Watch This Level

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This morning, the leading semiconductor equipment makers are selling off at the start of the trading session. Some of the leading semiconductor equipment makers that are coming under early pressure include KLA-Tencor Corp (KLAC), Applied Materials Inc (AMAT), and Lam Research Corp (LRCX). These stocks are certainly being affected by the Intel Corp (INTC) earnings report which obviously stated a lack of new research and development spending. Short term day traders can watch for intra-day chart support for KLAC stock around the $62.50 level. This is an area where the stock could stage a decent intra-day bounce. Today, KLAC stock is trading lower by $1.32 to $62.84 a share.